Marysville, Ohio-The Scotts Miracle-Gro Co. reported net income of $147.8 million ($2.23 per diluted share) on sales of $1.28 billion for the third quarter ending June 27, 2009, compared to the year-ago $22.6 million ($.35 per share) on sales of $1.17 billion. Adjusted net income, which excludes the impact of product registration and recall costs, as well as impairment charges, was $153.7 million ($2.32 per share), versus the year-ago $130.7 million ($2.00 per share). While third-quarter sales were up 9 percent overall, they were up 16 percent in Scotts’ largest segment, global consumer, to $1.1 billion from $930.1 million. The other segments, all much smaller, saw declines ?Çô global professional – 24 percent, Scotts LawnService – 10 percent, and corporate/other – 12 percent. Year-to-date, Scotts said consumer purchases are higher in every state and the company has seen double-digit improvements in consumer purchases in 45 states. Nine-month net income was $168.2 million ($2.56 per share) on sales of $2.56 billion, versus the year-ago $23.8 million ($.36 per share) and $2.44 billion, respectively. Adjusted nine-month net income was $184.1 million ($2.80 per share) versus the year-ago $151.6 million ($2.31 per share).
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